Overnight Recap And Today's Key Events

Following a series of bad economic news (Eurozone unemployment, rising inflation, plunging retail sales in Germany, Spain and Greece) out of Europe, and the usual sound and fury out of the ECB signifying nothing (was there finally news that Weidmann and/or the Buba are endorsing anything Draghi is doing - instead of seeking to potentially quit his post leaving the ECB in limbo? No? Then stop flashing red headlines which are completely irrelevant), the EURUSD has decided to go on its usual countersensical stop hunt higher in hopes an algo or two will push it even higher on nothing but momentum, with has one purpose only: to allow the pair enough of a buffer so that when it does fall after the J-Hole disappointment, it has more room to drop. And as European newsflow fades into the periphery, everyone is once again focusing on Wyoming where Bernanke is now broadly expected to do absolutely nothing. What else are market participants focusing on? Here is the full ist courtesy of Bloomberg daybook.

French corporate leaders criticized Socialist President Francois Hollande’s government for policies they say hurt companies already battered by a slowing economy and decades of business-unfriendly practices

Mitt Romney accepted the Republican presidential nomination and reached out to disaffected supporters of President Barack Obama, framing the election as a choice between two visions of the role of government in America

Clint Eastwood said U.S. unemployment is a “national disgrace” and that the Obama administration isn’t “strong enough” in dealing with 23m unemployed

The ECB is using Europa, a figure from Greek mythology, improve security on new euro banknotes, four people familiar with the design said